Impending overseas travellers can now buy their foreign exchange online for the first time, 24-hours-a-day seven-days-a-week, and have it delivered to their work addresses during business hours, if they are FNB Internet banking clients.

The new service, which is available on FNB's Internet banking Web site, www.eBucks.com, enables overseas travellers to buy travellers cheques and foreign notes online up to 60 days in advance of their travel. Their transactions will be processed within minutes, providing they have all the relevant information, and payment will be debited automatically to their selected FNB Internet banking accounts.

"Buying foreign exchange has never been easier," says FNB Forex's chief operating officer Louis Jordaan.

"Up till now, travellers could order their foreign exchange from certain banks or foreign currency providers, however, they did not have the luxury of actually dealing on live exchange rates, also the ordering process was manual and usually took one day to complete. In most instances, they had to collect their foreign exchange from their banks," says Jordaan.

"Our system is automated and fully compliant with SA Reserve Bank (SARB) foreign exchange controls. It validates foreign exchange purchases automatically up to their maximum permissible allowances," he adds.

"What is more, if travellers are registered with eBucks.com, they earn eBucks at the rate of 2% of the rand value of the transaction, for all travellers cheque transactions over R5 000. For instance on a transaction of R50 000, a client will earn eB1 000. There is no limit to the amount of eBucks that they can earn," says Jordaan.

FNB Internet banking clients can buy for themselves as well as for family members or friends travelling with them, providing that they give full beneficiary details including identification document numbers and residential addresses.

Jordaan says: "While overseas travel is more affordable now than it has been in years, South Africans still need to watch the value of the rand carefully. This online facility enables them to secure an exchange rate within seconds, providing they act within the SARB's foreign exchange purchasing regulations."

He says travellers using this facility, but who cannot provide a business address for deliveries, can elect to take delivery of their foreign exchange from specified FNB branches.

About eBucks:

eBucks, the rewards programme offered by First National Bank (FNB) and RMB Private Bank, is acknowledged as one of South Africa's leading rewards programmes with highly active members spending in excess of 80% of the eBucks earned in any given month.